Main differences between the financial consolidation method and the regulatory consolidation method, considering regulatory adjustments

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1 Disclosure Report pursuant to the Capital Requirements Regulation as of 31 December Scope of Application Regulatory Requirements Since 1 January 214, BCR Group has been calculating the regulatory capital and the regulatory capital requirements according to Basel 3. The requirements have been implemented within the EU by the CRR and the CRD IV as well as within various technical standards issued by European Bank Authority, which were enacted in national law in the National Bank of Romania, Regulation No 5/213. All requirements as defined in the CRR, the NBR and the aforementioned technical standards are fully applied by BCR Group. Accounting Principles The financial and regulatory figures published for BCR Group are based on IFRS. Regulatory capital components are derived from the balance sheet and income statement which have been prepared in accordance with IFRS. Adjustments to the accounting figures are considered due to the difference for items where the regulatory treatment is not equal to the accounting requirements. The uniform closing date of the financial statements and regulatory figures of BCR Group is 31 December of each respective year. Comparison of consolidation for accounting purposes and regulatory purposes Disclosure requirements covered by: Art. 436 (b) CRR Scope of Consolidation The financial scope of consolidation is used to describe the scope of consolidation required by the International Financial and Reporting Standards (IFRS), which are applicable to the financial statements of BCR Group. The regulatory scope of consolidation is used as a synonym for the scope of consolidation, that follows the regulatory requirements for consolidation as defined by the CRR and CRD IV and enacted by NBR into national law. Financial scope of consolidation (pursuant to IFRS) The relevant scope of consolidation for the financial statements of BCR Group includes the parent company, its subsidiaries and associated companies. The BCR group subsidiaries are those entities which are directly or indirectly controlled. Control over an entity is evidenced by the Group s ability to exercise its power in order to affect any variable returns that the Group is exposed to through its involvement with the entity (as defined by IFRS 1). An associate is an entity over which the Group has significant influence, but not a controlling interest, over the operating and financial Report 214 on transparency and public disclosure requirements Page 1 of 28

2 management policy decisions of the entity. Significant influence is generally presumed when the Group holds between 2% and 5% of the voting rights. Regulatory scope of consolidation The regulatory scope of consolidation is defined in Part One, Title II, Chapter 2, Section 3 of the CRR. The definition of entities to be for regulatory purposes are mainly defined in Article 4 (1) (3) and (16) to (27) CRR in conjunction with the Articles 18 and 19 CRR. Based on the relevant sections in Article 4, CRR entities to be are determined based on the business activity of the relevant entities. Main differences between the accounting scope and the regulatory scope based on the different requirements as defined within IFRS and CRR as well as the NBR Based on the CRR and NBR regulation, mainly credit institutions pursuant to Article 4 (1) (1) CRR, investment firms pursuant to Article 4 (1) (2) CRR, ancillary services undertakings pursuant to Article 4 (1) (18) CRR and financial institutions pursuant to Article 4 (1) (26) CRR have to be considered within the scope of consolidation. In contrast, under IFRS all other entities not required to be under CRR, such as insurance undertakings, must be included in the financial scope of consolidation. Exclusion of entities from the regulatory scope of consolidation can be applied based on Article 19 CRR. According to Article 19 (1) CRR, entities can be excluded from the regulatory scope if their total assets and off-balance sheet items are less than the lower of either EUR 1 mn or 1% of the total amount and off-balance sheet items of the parent company. BCR Group doesn t make use of Article 19 (1) CRR. According to Article 19 (2) CRR, entities can also be excluded if the limits defined in Article 19 (1) CRR are exceeded, but are not relevant for regulatory purposes. Exclusion of entities based on Article 19 (2) CRR needs the prior approval of the competent authorities. For entities that exceed the limits as defined in Article 19 (1) CRR by insignificant amounts, BCR Group doesn t make use of Article 19 (2) CRR. BCR Group s scope of consolidation according to IFRS is disclosed in the Financial Statements, see Accounting Policy page 6. BCR has the same scope of consolidation for CRR purposes. CONSOLIDATION METHODS Main differences between the financial consolidation method and the regulatory consolidation method, considering regulatory adjustments BCR Group applies full consolidation according to IFRS 1 for accounting purposes. At method according to the international accounting standard (IAS) 28 is applied to participations between 2% and 5% in associated entities. For the calculation of own funds, BCR Group applies the same consolidation methods as used for accounting purposes. Report 214 on transparency and public disclosure requirements Page 2 of 28

3 Consideration of consolidation methods for the calculation of own funds pursuant to the CRR The amounts used for the calculation of the own funds are derived from the balance sheet according to IFRS as reported in the audited financial statements. The financial and regulatory consolidations have the same scope. The amounts that are used as the basis for the calculation of own funds are based on the definition of the regulatory scope of consolidation pursuant to the CRR. Amounts that relate to the own share as well as to the minority interest in fully entities are therefore determined based on the regulatory scope of consolidation according to CRR. Minority interests are calculated based on the requirements as defined in Articles 81 to 88 CRR. Minority interests that relate to entities other than credit institutions are excluded from the own funds. Minority interests that relate to credit institutions are limited to capital requirements that relate to the minority interests in the relevant credit institutions. BCR Group made use of Article 84 (2) CRR and did not include any minority interest of credit institutions as of 31. December 214. According to Romanian transitional provisions, 2% of the non-eligible minorities have to be excluded from own funds in 214. As BCR Group applies the Romanian transitional provisions on Group-level this percentage was applied to the exclusion of minority interest in own funds as of 31 December 214. Amounts that relate to minority interests in other comprehensive income are neither included in the own funds of BCR Group nor considered in the calculation according to the final CRR provisions or during the transitional period. Consideration of non- financial sector entities and deferred tax assets that rely on future profitability arising from temporary differences within the calculation of common tier 1 of BCR Group Carrying amounts representing the investments in financial sector entities have to be deducted from the own funds based on the requirements as defined in Articles 36 (1) (h), Article 45 and Article 46 CRR for non-significant investments and Articles 36 (1) (i) CRR, Article 43 and Article 45 CRR for significant investments. For these purposes, non-significant investments are defined as investments in financial sector entities in which the participation is equal to or less than 1% of common tier 1 (CET 1) of the relevant financial sector entities, while significant investments are defined as investments that are above 1% of the common (CET 1) of the relevant financial sector entities. To determine the participation in the relevant financial sector entities, these participations are calculated based on the direct, indirect and synthetic holdings in the relevant entities. According to Article 46 (1) CRR, holdings in non-significant investments have to be deducted only if the total amount for such investments exceeds a defined threshold of 1% in relation to CET1 of the reporting institution. Deduction shall be applied to the amount that exceeds the 1% threshold. Amounts that are equal to or less than 1% of the CET1 of the reporting institution are considered within the RWAs based on the requirements according to Article 46 (4) CRR. For the deduction of significant investments in the CET1 of financial sector entities, a threshold is defined in Article 48 (2) CRR. According to Article 48 (2) CRR, significant Report 214 on transparency and public disclosure requirements Page 3 of 28

4 investments in the CET1 of financial sector entities shall only be deducted if they exceed 1% of the CET1 of the reporting institution. If the 1% threshold is exceeded, the deduction is limited to the amount by which the defined threshold is exceeded. The remaining amount has to be considered within the calculation of the RWAs. The risk weight (RW) is defined at 25% according to Article 48 (4) CRR. In addition to the aforementioned threshold, a combined threshold for the deduction of significant investments according to Article 36 (1) (i) CRR and for deferred tax assets that rely on future profitability and arise from temporary differences according to Article 36 (1) (c) CRR as well as according to Article 38 CRR is defined in Article 48 (2) CRR. The combined threshold according to Article 48 (2) CRR is defined at 17.65% of the CET1 of the reporting institution. If the threshold is exceeded, the exceeding amount has to be deducted from the CET1 of the reporting institution. The remaining amount has to be considered within the RWAs. A 25% RW shall be applied for the amount not exceeding the 17.65% threshold according to Article 48 (4) CRR. Beside the 17.65% combined threshold, a 1% threshold related to the CET1 capital of the reporting institution is applied for deferred tax assets that rely on future profitability arising from temporary differences according to Article 48 (3) CRR. In case the amount for deferred tax assets that rely on future profitability that arise from temporary differences exceeds the threshold of 1% of CET1 of the reporting institution the exceeding amount has to be deducted from the CET1 of the reporting institution. The amount that is equal to or less than the threshold as defined in Article 48 (3) CRR has to be considered within the calculation of RWAs. The RWA that has to be applied for the remaining amount of deferred tax assets that rely on future profitability and arise from temporary differences is defined with a RW of 25% according to Article 48 (4) CRR. At the reporting date, BCR Group did not exceed any of the aforementioned thresholds. Hence, direct, indirect and synthetic investments in financial sector entities were not deducted from the own funds of BCR Group and therefore are considered in RWAs. PRESENTATION OF THE SCOPE OF CONSOLIDATION NUMBER OF ENTITIES WITHIN THE SCOPE OF CONSOLIDATION IFRS Full IFRS Equity CRR Full CRR Equity Credit institutions 3 3 Financial institutions, financial holding companies and mixed financial holding companies Ancillary service undertakings, investment firms 5 5 Table 1: Art. 436 (b) CRR: Number of companies in the scope of consolidation as of 31 December 214. The number of companies pursuant to IFRS was 12 as of 31 December 214. The number of companies pursuant to regulatory capital requirements was 12 as of 31 December 214. Report 214 on transparency and public disclosure requirements Page 4 of 28

5 CHANGES WITHIN THE FULLY CONSOLIDATED ENTITIES WITHIN THE REGULATORY SCOPE OF CONSOLIDATION IN 214 Credit institutions New De Romania 2 2 Moldova 1 1 Other Total 3 3 Financial institutions, financial holding companies and mixed financial holding companies New De Romania 4 4 Moldova Other 1 1 Total Ancillary service undertakings, investment firms and asset management companies New De Romania Moldova Other Total Table 2: Art. 436 (b) CRR: Changes to the regulatory scope of consolidation of fully companies in Own Funds For the disclosure of own funds, BCR Group follows the requirements under Article 437 CRR as well the requirements defined in the Implementing Technical Standards (EU) No 1423/213. Based on the requirements defined by the European Bank Authority in the Implementing Technical Standards, the following information must be provided: - A full reconciliation of CET1 items, Additional Tier 1 (AT1) items, Tier 2 (T2) items and filters and deductions applied pursuant to Articles 32 to 35, 36, 56, 66 and 79 to own funds of the institution s balance sheet in the audited financial statements in accordance with Article 437 (1) (a) CRR. - A description of the main features of the CET1, AT1 and T2 instruments issued by the institution according to Article 437 (1) (b) CRR (see chapter Annex 2). - A table designed by the European Bank Authority to show the capital structure of regulatory capital. Presentation of this table that shows the details on the capital structure of BCR Group including the capital components as well as any regulatory deductions and prudential filters. Disclosures in this table cover the disclosure requirements as defined in Article 437 (1) (d) CRR, separate disclosure of the nature and amounts of each prudential filter applied pursuant to Articles 32 to 35 CRR, each deduction made pursuant to Articles 47, 48, 56, 66 Report 214 on transparency and public disclosure requirements Page 5 of 28

6 and 79 CRR as well as items not deducted in accordance with Articles 47, 48, 56, 66 and 79 CRR (see chapter 2.1.5) Consolidated Own funds Statement of financial position Disclosure requirements covered: Art. 437 (1) (a) CRR and Annex 1 from NBR Regulation 1423/ CRR Statement of financial position At the IFRS scope of consolidation and the regulatory scope of consolidation were the same, the balance sheet figures are presented in the Group Consolidated Financial Statements 214 (IFRS) under Statement of financial position Reconciliation of IFRS and CRR items included in the Statement of financial position The following tables provide a reconciliation of IFRS balance sheet items to CET1 items, AT1 items, T2 items and filters according to Articles 32 to 35 as well as deductions as defined in Articles 36, 56, 66 and 79 CRR. Last column contains a letter to link the amount derived from the accounting figures to the related eligible amount as disclosed in the own funds template in chapter Total RON thousands IFRS (audited) Subscribed capital 2,952,565 2,952,565 Capital reserve 395, ,483 CRR Regulatory Adjustments Own funds 2,952, ,483 Capital instruments and the related share premium accounts 3,348,48 3,348,48 3,348,48 a Retained earnings from previous periods Profit/loss in the period 2,952,424 2,952,424 2,952,424 (2,799,866) (2,799,866) (2,799,866) Retained earnings 152, , ,558 b Other comprehensive income (OCI) 1,374,497 1,374,497 Cash flow hedge reserve net of tax Available for sale reserve net of tax unrealized gains acc. to Art. 35 CRR unrealized loss acc. to Art. 35 CRR other Currency translation Remeasurement of net liability of defined benefit obligation Deferred tax Other Equity attributable to the owners of the parent 4,875,13 4,875,13 1,374,497 2,3 2,3 2,3 327, , , , (25,448) (15,166) (15,166) (15,166) 65,892 65,892 65, ,38 165,38 165,38 828, , ,376 4,875,13 Equity attributable to non-controlling interest 35,51 35,51 (7,1) 28,41 i Total 4,91,154 4,91,154 (7,1) 4,93,144 Own funds disclosure table - Reference c d e f g h Table 3: Art. 437 (1) (a) CRR: Reconciliation of total from the financial balance sheet to regulatory capital. Report 214 on transparency and public disclosure requirements Page 6 of 28

7 Further details regarding the development of IFRS are disclosed in the Group Consolidated Financial Statements 214 (IFRS) under Statement of Changes in Equity. Intangible assets RON Thousands IFRS (audited) CRR Regulatory adjustments Own funds Own funds disclosure table - Reference Intangible assets 218, , ,461 j 2% deductible from CET 1 acc to transitional provisions 43,692 k 8% deductible from AT 1 acc to transitional provisions 174,768 l Intangible assets 218, , ,461 Table 4: Art. 437 (1) (a) CRR: Reconciliation of intangible assets from the financial balance sheet to regulatory capital. Details regarding the development of intangible assets are disclosed in the Group Consolidated Financial Statements 214 (IFRS) under Note 26 Intangible assets. Deferred Taxes RON Thousands IFRS/(audited) CRR/Own Funds Own funds disclosure table - Reference Deferred tax assets that rely on future profitability and do not arise from temporary differences net of associated tax liabilities 363,81 363,81 m related DTA allocated on or after 1 January 214 for which 1% deduction is required according to CRR transitional provisions 174, ,253 related DTA allocated before 1 January 214 for which % deduction from CET 1 is required according to CRR transitional provisions 189, ,547 Deferred tax assets that rely on future profitability and arise from temporary differences 247,53 247,53 Deferred tax liabilities associated to other intangible assets (15,496) (15,496) n Other deferred tax liabilities (69,637) (69,637) Deferred tax assets 526,17 526,17 * Based on the threshold definition according to Article 48 CRR Deferred tax assets that rely on future profitability and arise from temporary differences are not deductible for BCR Group at year end 214. In accordance with Article 48 (4) CRR the non-deductible amount is risk weighted with 25% and considered within the credit risk. Table 5: Art. 437 (1) (a) CRR: Reconciliation of deferred taxes from the financial balance sheet to regulatory capital. Report 214 on transparency and public disclosure requirements Page 7 of 28

8 Subordinated liabilities RON Thousands IFRS (audited) CRR Regulatory adjustments Own funds Own funds disclosure table - Reference Subordinated issues and deposits and supplementary capital Tier 2 capital instruments issued by the parent company Qualifying own funds instruments included in Tier 2 capital issued by third party 2,559,395 2,559,395 (518,17) 2,41,225 2,315,834 2,315,834 (353,562) 1,962, , ,561 (164,68) 78,953 o Subordinated liabilities 5,118,79 5,118,79 (518,17) 4,6,62 Table 6: Art. 437 (1) (a) CRR: Reconciliation of liabilities from the financial balance sheet to regulatory capital. Details regarding liabilities are disclosed in the Group Consolidated Financial Statements 214 (IFRS) under Note 3 Financial liabilities measured at amortised costs. In accordance with NBR Regulation 5/213, the liabilities with less than 5 years maturity, are excluded Threshold calculations according to Articles 46 and 48 CRR Threshold calculations according to Articles 46 and 48 CRR in RON Thousands Non significant investments in financial sector entities Threshold (1% of CET1) 413,282 Holdings in CET 1 (41,891) Holdings in AT 1 Holdings in T 2 Distance to threshold 371,392 Significant investments in financial sector entities Threshold (1% of CET1) 413,282 Holdings in CET 1 (15,289) Distance to threshold 397,993 Deferred tax assets Threshold (1% of CET1) 413,282 Deferred tax assets that are dependent on future profitability and arise from temporary differences (244,245) Distance to threshold 169,37 Combined threshold for deferred tax assets and significant investments Threshold (17.65% of CET1) 729,443 Deferred tax assets that are dependent on future profitability and arise from temporary differences and CET1 instruments of financial sector entities where the institution has a significant investment (259,534) Distance to threshold 469,99 Table 7: Threshold calculations pursuant to Art. 46 and 48 CRR. Report 214 on transparency and public disclosure requirements Page 8 of 28

9 2.1.4 Transitional Provisions based on CRR- from the NBR Regulation 5/213 used in 214 a) Capital Ratios Capital Ratios Common Equity TIER 1(CET1) 465 (1) CRR 4.5% Subordinated Capital (T2) 465 (1) CRR 2.5% b) Transitional Provisions concerning CET1 Minority interest Minority interests 48 (1) CRR 8% Prudential Filters Unrealised losses AFS reserve 467 (2) CRR 1% Unrealised gains AFS reserve 468 (2) CRR 45% Gains or losses on liabilities valued at fair value resulting from changes in own credit standing 468 (4) CRR 1% Regulatory Deductions Losses for the current financial year 36 (1) a) CRR 1% Intangible assets 36 (1) b) CRR 2% Direct holdings in CET1 capital instruments of financial sector entities where the institution does not have a significant investment 36 (1) h) CRR 2% Deferred tax assets that rely on future profitability and do not arise from temporary differences booked before (1) c) CRR % Deferred tax assets that rely on future profitability and do not arise from temporary differences booked in 214 or afterwards 36 (1) c) CRR 2% Direct holdings in CET1 capital instruments of financial sector entities where the institution has a significant investment 36 (1) i) CRR 2% c) Transitional Provisions concerning AT1 Minority interests Minority interests 48 (1) CRR 8% Regulatory Deductions Articles 214 Direct holdings in AT1 capital instruments of financial sector entities where the institution does not have a significant investment 56 c) CRR 2% Direct holdings in AT1 capital instruments of financial sector entities where the institution has a significant investment 56 d) CRR 2% Difference between prudential adjustments and adjustments for impairment according to IFRS 4% d) Transitional Provisions concerning T2 Minority interests Minority interests 48 (1) CRR 8% Regulatory Deductions Difference between prudential adjustments and adjustments for impairment according to IFRS 4% e) Deduction of remaining amounts Remaining amounts out of CET1 deducted from AT1 Intangible assets 472 (4) CRR 8% Direct holdings in CET1 capital instruments of financial sector entities where the institution does not have a significant investment 472 (1) CRR 2% Deferred tax assets that rely on future profitability and do not arise from temporary differences booked before (5) CRR RW Table 8: Art. 437 (1) (e) (f) CRR: Transitional Provisions and Regulation 5/213 issued by NBR, title X chapter I Transitional provisions Section 1 Own funds Own funds template Disclosure requirements covered by Art. 437 (1) (d) (e) CRR with respect to Art. 437 (1) (f), a nil report is made. Own funds under Basel 3 consist of CET1, AT1 and T2. In order to determine the capital ratios, each respective capital component, after consideration of all the regulatory deductions and filters, is compared to the total risk. According to the final Report 214 on transparency and public disclosure requirements Page 9 of 28

10 rules, the minimum ratio for CET1 is 4.5%, which can be increased based on the buffer regime according to CRD IV. The minimum capital requirement for tier 1 capital (CET1 plus AT1) and for total own funds are 6% and 8%, respectively. According to the NBR transitional provisions, the minimum ratios for 214 are 4% for CET1, 5.5% for Tier 1 and 8% for total own funds. No additional capital buffers were required for the year end 214. The table below presents the composition of the regulatory capital during the transitional period based on the Implementing Technical Standards on the disclosure of own funds published in 1423/213 EU. In column (A), the current amount, which considers all the transitional requirements, is disclosed. Column (C) discloses the residual amount, implying full CRR implementation. Column (D) provides information of data comparable figures within the IFRS annual report related to, intangible assets, deferred tax assets and liabilities as shown in chapter RON thousands Common Equity Tier 1 capital: instruments and reserves (1) 31/12/214 (B) REGULATION (EU) No 575/213 ARTICLE REFERENCE (C) AMOUNTS SUBJECT TO PRE- REGULATION (EU) No 575/213 TREATMENT OR PRESCRIBED RESIDUAL AMOUNT OF REGULATION (EU) 575/213 Own funds disclosure table - Reference 1 Capital instruments and the related share premium accounts 3,348,48 26 (1), 27, 28, 29, EBA list 26 (3) of which: ordinary shares 2 Retained earnings 3,348,48 152,558 EBA list 26 (3) a 26 (1) (c) b 3 Accumulated other comprehensive income (and any other reserves) 1,374, (1) c 3a Funds for general banking risk 26 (1) (f) 4 Amount of qualifying items referred to in Article 484 (3) and the related share premium accounts subject to phase out from CET1 486 (2) Public sector capital injections grandfathered until 1 January (2) 5 Minority interests (amount allowed in CET1) 28,41 84, 479, 48 i 5a Independently reviewed interim profits net of any foreseeable charge or dividend 26 (2) 6 Common Equity Tier 1 (CET1) capital before regulatory adjustments 4,93,144 Common Equity Tier 1 (CET1) capital: regulatory adjustments 7 Additional value adjustments (negative amount) 8 Intangible assets (net of related tax liability) (negative amount) (6,731) (22,964) 34, (1) (b), 37, 472 (4) -(j+n) 9 Empty set in the EU 1 Deferred tax assets that rely on future profitability excluding those arising from temporary difference (net of related tax liability where the conditions in Article 38 (3) are met) (negative amount) (363,81) 36 (1) (c), 38, 472 (5) 316,349 -m 11 Fair value reserves related to gains or losses on cash flow hedges (2,3) 33 (a) -d 12 Negative amounts resulting from the calculation of expected loss amounts 36 (1) (d), 4, 159, 472 (6) 13 Any increase in that results from securitised assets (negative amount) 32 (1) 14 Gains or losses on liabilities valued at fair value resulting from changes in own credit standing (1,375) 33 (1) (b) (c) Report 214 on transparency and public disclosure requirements Page 1 of 28

11 RON thousands Common Equity Tier 1 capital: instruments and reserves (1) 31/12/214 (B) REGULATION (EU) No 575/213 ARTICLE REFERENCE (C) AMOUNTS SUBJECT TO PRE- REGULATION (EU) No 575/213 TREATMENT OR PRESCRIBED RESIDUAL AMOUNT OF REGULATION (EU) 575/213 Own funds disclosure table - Reference 15 Defined-benefit pension fund assets (negative amount) 36 (1) (e), 41, 472 (7) Direct and indirect holdings by an institution of own CET1 instruments (negative amount) Direct, indirect and synthetic holdings of the CET1 instruments of financial sector entities where those entities have reciprocal cross holdings with the institution designed to inflate artificially the own funds of the institution (negative amount) 36 (1) (f), 42, 472 (8) 36 (1) (g), 44, 472 (9) 18 Direct, indirect and synthetic holdings of the CET1 instruments of financial sector entities where the institution does not have a significant investment in those entities (amount above 1% threshold and net of eligible short positions) (negative amount) 36 (1) (h), 43, 45, 46, 49 (2) (3), 79, 472 (1) 19 Direct, indirect and synthetic holdings of the CET1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above 1% threshold and net of eligible short positions) (negative amount) 36 (1) (i), 43, 45, 47, 48 (1) (b), 49 (1) to (3), 79, 47, 472 (11) 2 Empty set in the EU 2a 2b Exposure amount of the following items which qualify for a RW of 125%, where the institution opts for the deduction alternative of which: qualifying holdings outside the financial sector (negative amount) 36 (1) (k) 36 (1) (k) (i), 89 to 91 2c of which: securitization positions (negative amount) 36 (1) (k) (ii) 243 (1) (b) 244 (1) (b) 258 2d of which: free deliveries (negative amount) 36 (1) (k) (iii), 379 (3) 21 Deferred tax assets arising from temporary difference (amount above 1 % threshold, net of related tax liability where the conditions in Article 38 (3) are met) (negative amount) 36 (1) (c), 38, 48 (1) (a), 47, 472 (5) 22 Amount exceeding the 15% threshold (negative amount) 48 (1) 23 of which: direct and indirect holdings by the institution of the CET1 instruments of financial sector entities where the institution has a significant investment in those entities 36 (1) (i), 48 (1) (b), 47, 472 (11) 24 Empty set in the EU 25 of which: deferred tax assets arising from temporary difference 36 (1) (c), 38, 48 (1) (a), 47, 472 (5) 25a Losses for the current financial year (negative amount) (2,799,866) 36 (1) (a), 472 (3) 25b Foreseeable tax charges relating to CET1 items (negative amount) (165,38) 36 (1) (l) -g 26 26a Regulatory adjustments applied to Common Equity Tier 1 in respect of amounts subject to pre-crr treatment 125,288 Regulatory adjustments relating to unrealized gains and losses pursuant to Articles 467 and 468 (353,433) 194,388 AFS reserve gains (353,433) 194,388 -f 26b Amount to be deducted from or added to Common Equity Tier 1 capital with regard to additional filters and deductions required pre CRR 478, Intangible assets (net of related tax liability) (negative amount) 162,372 Deferred tax assets 316, Qualifying AT1 deductions that exceeds the AT1 capital of the institution (negative amount) (162,372) 36 (1) (j) -(j+n) 28 Total regulatory adjustments to Common Equity Tier 1 (CET1) 29 Common Equity Tier 1 (CET1) capital (779,365) 4,123,779 Report 214 on transparency and public disclosure requirements Page 11 of 28

12 RON thousands Common Equity Tier 1 capital: instruments and reserves (1) 31/12/214 (B) REGULATION (EU) No 575/213 ARTICLE REFERENCE (C) AMOUNTS SUBJECT TO PRE- REGULATION (EU) No 575/213 TREATMENT OR PRESCRIBED RESIDUAL AMOUNT OF REGULATION (EU) 575/213 Own funds disclosure table - Reference Additional Tier 1 (AT1) capital: instruments 3 Capital instruments and the related share premium accounts 51, of which: classified as under applicable accounting standards 32 of which: classified as liabilities under applicable accounting standards 33 Amount of qualifying items referred to in Article 484 (4) and the related share premium accounts subject to phase out from AT1 486 (3) Public sector capital injections grandfathered until 1 January (3) 34 Qualifying Tier 1 capital included in AT1 capital (including minority interest not included in row 5) issued by subsidiaries and held by third parties 85, 86, of which: instruments issued by subsidiaries subject to phase-out 486 (3) 36 Additional Tier 1 (AT1) capital before regulatory adjustments Additional Tier 1 (AT1) capital: regulatory adjustments 37 Direct and indirect holdings by an institution of own AT1 instruments (negative amount) 52 (1) (b), 56 (a), 57, 475 (2) 38 Holdings of the AT1 instruments of financial sector entities where those entities have reciprocal cross holdings with the institution designed to inflate artificially the own funds of the institution (negative amount) 56 (b), 58, 475 (3) 39 Direct, indirect and synthetic holdings of the AT1 instruments of financial sector entities where the institution does not have a significant investment in those entities (amount above 1% threshold and net of eligible short positions) (negative amount) 56 (c), 59, 6, 79, 475 (4) 4 Direct, indirect and synthetic holdings of the AT1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above 1% threshold and net of eligible short positions) (negative amount) 56 (d), 59, 79, 475 (4) 41 Regulatory adjustments applied to Additional Tier 1 capital in respect of amounts subject to pre-crr treatment and transitional treatments subject to phase-out as prescribed in Regulation (EU) No 585/213 (ie. CRR residual amounts) (162,372) 41a Residual amounts deducted from Additional Tier 1 capital with regard to deduction from Common Equity Tier 1 capital during the transitional period pursuant to article 472 of Regulation (EU) No 575/213 (162,372) 472, 473(3)(a), 472 (4), 472 (6), 472 (8) (a), 472 (9), 472 (1) (a), 472 (11) (a) Intangible assets (net of related tax liability) (negative amount) (162,372) (j+n)*.8 41b Residual amounts deducted from Additional Tier 1 capital with regard to deduction from Tier 2 capital during the transitional period pursuant to article 475 of Regulation (EU) No 575/ , 477 (3), 477 (4) (a) 41c Amounts to be deducted from added to Additional Tier 1 capital with regard to additional filters and deductions required pre- CRR 467, 468, Qualifying T2 deductions that exceed the T2 capital of the institution (negative amount) 162, (e) 43 Total regulatory adjustments to Additional Tier 1 (AT1) capital 44 Additional Tier 1 (AT1) capital 45 Tier 1 capital (T1 = CET1 + AT1) Tier 2 (T2) capital: instruments and provisions 4,123, Capital instruments and the related share premium accounts 2,41,225 62, Amount of qualifying items referred to in Article 484 (5) and the related share premium accounts subject to phase out from T2 486 (4) Public sector capital injections grandfathered until 1 January (4) Report 214 on transparency and public disclosure requirements Page 12 of 28

13 RON thousands Common Equity Tier 1 capital: instruments and reserves (1) 31/12/214 (B) REGULATION (EU) No 575/213 ARTICLE REFERENCE (C) AMOUNTS SUBJECT TO PRE- REGULATION (EU) No 575/213 TREATMENT OR PRESCRIBED RESIDUAL AMOUNT OF REGULATION (EU) 575/213 Own funds disclosure table - Reference 48 Qualifying own funds instruments included in T2 capital (including minority interest and AT1 instruments not included in rows 5 or 34) issued by subsidiaries and held by third party 87, 88, of which: instruments issued by subsidiaries subject to phase-out 486 (4) 5 Credit risk adjustments 62 (c) & (d) 51 Tier 2 (T2) capital before regulatory adjustment Tier 2 (T2) capital: regulatory adjustments 2,41, Direct and indirect holdings by an institution of own T2 instruments and loans (negative amount) 63 (b) (i), 66 (a), 67, 477 (2) 53 Holdings of the T2 instruments and loans of financial sector entities where those entities have reciprocal cross holdings with the institutions designed to inflate artificially the own funds of the institution (negative amount) 66 (b), 68, 477 (3) 54 Direct, indirect and synthetic holdings of the T2 instruments and loans of financial sector entities where the institution does not have a significant investment in those entities (amount above 1 % threshold and net of eligible short positions) (negative amount) 66 (c), 69, 7, 79, 477 (4) 54a Of which new holdings not subject to transitional arrangements 54b 55 Of which holdings existing before 1 January 213 and subject to transitional arrangements Direct, indirect and synthetic holdings of the T2 instruments and loans of financial sector entities where the institution has a significant investment in those entities (net of eligible short positions) (negative amounts) 66 (d), 69, 79, 477 (4) 56 Regulatory adjustments applied to tier 2 in respect of amounts subject to pre-crr treatment and transitional treatments subject to phase out as prescribed in Regulation (EU) No 575/213 (i.e. CRR residual amounts) 159,45 56a Residual amounts deducted from Tier 2 capital with regard to deduction from Common Equity Tier 1 capital during the transitional period pursuant to article 472 of Regulation (EU) No 575/ , 472(3)(a), 472 (4), 472 (6), 472 (8), 472 (9), 472 (1) (a), 472 (11) (a) 56b Residual amounts deducted from Tier 2 capital with regard to deduction from Additional Tier 1 capital during the transitional period pursuant to article 475 of Regulation (EU) No 575/ , 475 (2) (a), 475 (3), 475 (4) (a) 56c Amounts to be deducted from or added to Tier 2 capital with regard to additional filters and deductions required pre- CRR 159,45 467, 468, 481 AFS reserve gains - 45% 57 Total regulatory adjustments to Tier 2 (T2) capital 58 Tier 2 (T2) capital 59 Total capital (TC = T1 + T2) 159,45 159,45 2,2,27 6,324,49 59a Risk weighted assets in respect of amounts subject to pre-crr treatment and transitional treatments subject to phase out as prescribed in Regulation (EU) No 575/213 (i.e. CRR residual amount) Of which: items not deducted from CET1 (Regulation (EU) No 575/213 residual amounts) (items to be detailed line by line, e.g. Deferred tax assets that rely on future profitability net of related tax liability, indirect holdings of own CET1, etc) 472, 472 (5), 472 (8) (b), 472 (1) (b), 472 (11) (b) Of which: items not deducted from AT1 items (Regulation (EU) No 575/213 residual amounts) (items to be detailed line by line, e.g. Reciprocal cross holdings in T2 instruments, direct holdings of non-significant investments in the capital of other financial sector entities, etc.) 475, 475 (2) (b), 475 (2) (c), 475 (4) (b) Report 214 on transparency and public disclosure requirements Page 13 of 28

14 RON thousands Common Equity Tier 1 capital: instruments and reserves (1) 31/12/214 (B) REGULATION (EU) No 575/213 ARTICLE REFERENCE (C) AMOUNTS SUBJECT TO PRE- REGULATION (EU) No 575/213 TREATMENT OR PRESCRIBED RESIDUAL AMOUNT OF REGULATION (EU) 575/213 Own funds disclosure table - Reference Items not deducted from T2 items (Regulation (EU) No 575/213 residual amounts) (items to be detailed line by line, e.g. Indirect holdings of own T2 instruments, indirect holdings of nonsignificant investments in the capital of other financial sector entities, indirect holdings of significant investments in the capital of other financial sector entities etc) 477, 477 (2) (b), 477 (2) (c), 477 (4) (b) 6 Total risk-weighted assets 31,495,194 Capital ratios and buffers 61 Common Equity Tier 1 (as a percentage of total risk exposure amount (2) (a), Tier 1 (as a percentage of total risk exposure amount (2) (b), Total capital (as a percentage of total risk exposure amount (2) (c) 64 Institution specific buffer requirement (CET1 requirement in accordance with article 92 (1) (a) plus capital conservation and countercyclical buffer requirements plus a systemic risk buffer, plus systemically important institution buffer expressed as a percentage of total risk exposure amount) not yet implemented CRD 128, 129, of which: capital conservation buffer requirement 66 of which: countercyclical buffer requirement 67 of which: systemic risk buffer requirement not yet implemented not yet implemented not yet implemented 67a of which: Global Systemically Important Institution (G-SII) or Other Systemically Important Institution (O-SII) buffer not yet implemented CRD Common Equity Tier 1 available to meet buffers (as a percentage of risk exposure amount) not yet implemented CRD [non-relevant in EU regulation] 7 [non-relevant in EU regulation] 71 [non-relevant in EU regulation] Amounts below the thresholds for deduction (before risk-weighting) 72 Direct and indirect holdings of the capital of financial sector entities where the institution does not have a significant investment in those entities (amount below 1% threshold and net of eligible short positions 41, (1) (h), 45, 46, 472 (1) 56 (c), 59, 6, 475 (4), 66 (c), 69, 7, 477 (4) 73 Direct and indirect holdings of the CET1 instruments of financial sector entities where the institution has a significant investment in those entities (amount below 1% threshold and net of eligible short positions 15, (1) (i), 45, 48, 47, 472 (11) 74 Empty set in the EU 75 Deferred tax assets arising from temporary difference (amount below 1 % threshold, net of related tax liability where the conditions in Article 38 (3) are met) 244, (1) (c), 38, 48, 47, 472 (5) Applicable caps on the inclusion of provisions in Tier Credit risk adjustments included in T2 in respect of exposures subject to standardized approach (prior to the application of the cap) Cap on inclusion of credit risk adjustments in T2 under standardized approach Credit risk adjustments included in T2 in respect of exposures subject to internal rating-based approach (prior to the application of the cap) Cap for inclusion of credit risk adjustments in T2 under internal ratings-based approach Capital instruments subject to phase-out arrangements (only applicable between 1 Jan 214 and 1 Jan 222) 8 - Current cap on CET1 instruments subject to phase-out arrangements 484 (3), 486 (2) & (5) Report 214 on transparency and public disclosure requirements Page 14 of 28

15 RON thousands Common Equity Tier 1 capital: instruments and reserves (1) 31/12/214 (B) REGULATION (EU) No 575/213 ARTICLE REFERENCE (C) AMOUNTS SUBJECT TO PRE- REGULATION (EU) No 575/213 TREATMENT OR PRESCRIBED RESIDUAL AMOUNT OF REGULATION (EU) 575/213 Own funds disclosure table - Reference 81 - Amount excluded from CET1 due to cap (excess over cap after redemptions and maturities) 484 (3), 486 (2) & (5) Current cap on AT1 instruments subject to phase-out arrangements 5,17 - Amount excluded from AT1 due to cap (excess over cap after redemptions and maturities) Current cap on T2 instruments subject to phase-out arrangements 2, (4), 486 (3) & (5) 484 (4), 486 (3) & (5) 484 (5), 486 (4) & (5) 85 - Amount excluded from T2 due to cap (excess over cap after redemptions and maturities) 484 (5), 486 (4) & (5) Report 214 on transparency and public disclosure requirements Page 15 of 28

16 2.2. Individual Own Funds Reconciliation of IFRS and CRR items included in the Statement of Financial Position The following tables provide a reconciliation of IFRS balance sheet items to CET1 items, AT1 items, T2 items and filters according to Articles 32 to 35 as well as deductions as defined in Articles 36, 56, 66 and 79 CRR. Last column contains a letter to link the amount derived from the accounting figures to the related eligible amount as disclosed in the own funds template. Total Equity in RON thousands /IFRS (audited) CRR Own Funds Balance Sheet reconciliation reference Ordinary share capital and related share premium, of which: 3,348,49 3,348,49 3,348,49 h Ordinary share capital 2,952,565 2,952,565 2,952,565 Related share premiums 395, , ,483 Retained earnings 3,4,45 3,4,45 3,4,45 i Loses for current financial year (2,629,568) (2,629,568) (2,629,568) j Accumulated other comprehensive income and any other reserves, out of which: 1,352,372 1,352,372 1,352,372 k Cash flow hedge reserve 2,3 2,3 2,3 l Other 1,59,676 1,59,676 1,59,676 Available for sale reserve gains 338, , ,668 m Available for sale reserve losses (48,3) (48,3) (48,3) Total Equity 5,11,897 5,11,897 5,11,897 Intangible assets in RON thousands /IFRS (audited) CRR Own Funds Balance Sheet reconciliation reference Intangible assets 222, , ,539 a Intangible assets 222, , ,539 Report 214 on transparency and public disclosure requirements Page 16 of 28

17 Deferred taxes in RON thousands /IFRS (audited) CRR Own Funds Balance Sheet reconciliation reference Deferred tax liabilities associated to other intangible assets (15,496) (15,496) (15,496) b Other deferred tax liabilities (68,39) (68,39) (68,39) Deferred tax assets that rely on future profitability and do not arise from temporary differences net of associated tax liabilities Deferred tax assets that rely on future profitability and arise from temporary differences net of associated tax liabilities 363,81 363,81 363,81 c 223, , ,892 d Deferred tax assets 53,888 53,888 53,888 Subordinated liabilities in RON thousands /IFRS (audited) CRR Own Funds Balance Sheet reconciliation reference Deposits from banks, of which: 13,864,122 13,864,122 Subordinated loans eligible for own fund calculation 1,962,272 1,962,272 1,962,272 f Subordinated loans not eligible for own fund calculation 353, ,562 Other deposits 11,548,288 11,548,288 Deposits from customers 37,592,461 37,592,461 Debt securities issued, of which: 1,44,28 1,44,28 Not debt securities issued 8,647 8,647 Subordinated debt securities issued eligible for own funds calculation 78,953 78,953 78,953 g Subordinated debt securities issued not eligible for own funds calculation 164,68 164,68 Other financial liabilities 371,65 371,65 Financial liabilities measured at amortised costs, of which: 52,872,441 52,872,441 Subordinated liabilities eligible for own funds calculation 2,41,225 2,41,225 2,41,225 Fair value gains and losses arising from the institution's own credit risk related to derivative liabilities in RON thousands /IFRS (audited) CRR Own Funds Balance Sheet reconciliation reference Fair value gains and losses arising from the institution's own credit risk related to derivative liabilities 1,375 1,375 1,375 e Other derivatives 68,752 68,752 Derivatives, of which: 7,127 7,127 Adjustments from derivatives for own funds calculation 1,375 1,375 1,375 Report 214 on transparency and public disclosure requirements Page 17 of 28

18 2.2.2 Threshold calculations according to Articles 46 and 48 CRR RON thousands Non-significant investments in financial sector entities Threshold (1% of CET 1) 438,44 Holdings in CET 1 (41,891) Holdings in AT 1 Holdings in T 2 Distance to threshold 396,153 Significant investments in financial sector entities Threshold (1% of CET 1) 438,44 Holdings in CET 1 (7,59) Distance to threshold 43,535 Deferred tax assets Threshold (1% of CET 1) 438,44 Deferred tax assets that are dependent on future profitability and arise from temporary differences (223,892) Distance to threshold 214,152 Combined threshold for deferred tax assets and significant investments Threshold (17,65% of CET 1) 773,148 Deferred tax assets that are dependent on future profitability and arise from temporary differences and CET 1 instruments of financial sector entities where the institution has a significant investment (231,41) Distance to threshold 541, Own funds template The table below presents the composition of the regulatory capital during the transitional period based on the Implementing Technical Standards of UE no 1423/213. In column (A), the current amount, which considers all the transitional requirements, is disclosed. Column (C) discloses the residual amount, implying full CRR implementation. Column (D) provides information of data comparable figures within the IFRS annual report related to, intangible assets, deferred tax assets, liabilities and adjustment from fair value gains and losses arising from the institution's own credit risk related to derivative liabilities and which derive from changing in institution s rating. Report 214 on transparency and public disclosure requirements Page 18 of 28

19 in RON thousands (A) 31 December 214 (B) Regulation (EU) no. 575/213 article reference (C) Amounts subject to pre-regulation (EU) no,575/213 Treatment or Prescribed Residual Amount of Regulation (EU) 575/213 (D) Source based on reference letters of the Balance Sheet 1 Capital instruments and the related share premium accounts 3,348,49 26 (1), 27, 28, 29, EBA list 26 (3) h of which: ordinary shares 3,348,49 EBA list 26 (3) 2 Retained earnings 3,4,45 26 (1) (c) i 3 Accumulated other comprehensive income (and any other reserves) 1,352, (1) k 3a Funds for general banking risk 26 (1) (f) 4 Amount of qualifying items referred to in Article 484 (3) and the related share premium accounts subject to phase out from CET1 N/A 486 (2) Public sector capital injections grandfathered until 1 January 218 N/A 483 (2) 5 Minority interests (amount allowed in CET1) 84, 479, 48 5a Independently reviewed interim profits net of any foreseeable charge or dividend 26 (2) 6 Common Equity Tier 1 (CET1) capital before regulatory adjustments 7,74,465 Common Equity Tier 1 (CET1) capital: regulatory adjustments 7 Additional value adjustments (negative amount) (6,731) 34, 15 8 Intangible assets (net of related tax liability) (negative amount) (191,14) 36 (1) (b), 37, 472 (4) a+b 9 Empty set in the EU 1 Deferred tax assets that rely on future profitability excluding those arising from temporary difference (net of related tax liability where the conditions in Article 38 (3) are met) (negative amount) (363,81) 36 (1) (c), 38, 472 (5) 316,349 c 11 Fair value reserves related to gains or losses on cash flow hedges (2,3) 33 (a) 12 Negative amounts resulting from the calculation of expected loss amounts 36 (1) (d), 4, 159, 472 (6) 13 Any increase in that results from securitised assets (negative amount) 32 (1) 14 Gains or losses on liabilities valued at fair value resulting from changes in own credit standing (1,375) 33 (1) (b) (c) e 15 Defined-benefit pension fund assets (negative amount) 36 (1) (e), 41, 472 (7) 16 Direct and indirect holdings by an institution of own CET1 instruments (negative amount) 36 (1) (f), 42, 472 (8) 17 Direct, indirect and synthetic holdings of the CET1 instruments of financial sector entities where those entities have reciprocal cross holdings with the institution designed to inflate artificially the own funds of the institution (negative amount) 36 (1) (g), 44, 472 (9) Direct, indirect and synthetic holdings of the CET1 instruments of financial sector entities where the institution does not have a significant investment in those entities (amount above 1% threshold and net of eligible short positions) (negative amount) Direct, indirect and synthetic holdings of the CET1 instruments of financial sector entities where the institution has a significant investment in those entities (amount above 1% threshold and net of eligible short positions) (negative amount) 36 (1) (h), 43, 45, 46, 49 (2) (3), 79, 472 (1) 36 (1) (i), 43, 45, 47, 48 (1) (b), 49 (1) to (3), 79, 47, 472 (11) 2 Empty set in the EU 2a Exposure amount of the following items which qualify for a RW of 125%, where the institution opts for the deduction alternative 36 (1) (k) 2b of which: qualifying holdings outside the financial sector (negative amount) 36 (1) (k) (i), 89 to 91 2c of which: securitisation positions (negative amount) 36 (1) (k) (ii) 243 (1) (b) 244 (1) (b) 258 2d of which: free deliveries (negative amount) 36 (1) (k) (iii), 379 (3) Report 214 on transparency and public disclosure requirements Page 19 of 28

20 in RON thousands (A) 31 December 214 (B) Regulation (EU) no. 575/213 article reference (C) Amounts subject to pre-regulation (EU) no,575/213 Treatment or Prescribed Residual Amount of Regulation (EU) 575/213 (D) Source based on reference letters of the Balance Sheet 21 Deferred tax assets arising from temporary difference (amount above 1 % threshold, net of related tax liability where the conditions in Article 38 (3) are met) (negative amount) 36 (1) (c), 38, 48 (1) (a), 47, 472 (5) 22 Amount exceeding the 15% threshold (negative amount) 48 (1) 23 of which: direct and indirect holdings by the institution of the CET1 instruments of financial sector entities where the institution has a significant investment in those entities 36 (1) (i), 48 (1) (b), 47, 472 (11) 24 Empty set in the EU 25 of which: deferred tax assets arising from temporary difference 36 (1) (c), 38, 48 (1) (a), 47, 472 (5) 25a Losses for the current financial year (negative amount) (2,629,568) 36 (1) (a), 472 (3) j 25b Foreseeable tax charges relating to CET1 items (negative amount) (165,38) 36 (1) (l) 26 26a Regulatory adjustments applied to Common Equity Tier 1 in respect of amounts subject to pre-crr treatment 13,593 Regulatory adjustments relating to unrealised gains and losses pursuant to Articles 467 and 468 (338,668) m of which Unrealised gains on corporate shares (87,488) 48,119 of which Unrealised gains on treasury bills, government and municipalities bonds (251,18) 138,149 26b Amount to be deducted from or added to Common Equity Tier 1 capital with regard to additional filters and deductions required pre CRR 469, of which Intangible assets (net of related tax liability) 152,912 (a+b)-8% of which Deferred tax assets that rely on future profitability excluding those arising from temporary difference (net of related tax liability where the conditions in Article 38 (3) are met) 316, Qualifying AT1 deductions that exceeds the AT1 capital of the institution (negative amount) (513,268) 36 (1) (j) 28 Total regulatory adjustments to Common Equity Tier 1 (CET1) (3,742,7) 29 Common Equity Tier 1 (CET1) capital 3,997,765 Additional Tier 1 (AT1) capital: instruments 3 Capital instruments and the related share premium accounts 51, of which: classified as under applicable accounting standards 32 of which: classified as liabilities under applicable accounting standards 33 Amount of qualifying items referred to in Article 484 (4) and the related share premium accounts subject to phase out from AT1 486 (3) Public sector capital injections grandfathered until 1 January (3) 34 Qualifying Tier 1 capital included in AT1 capital (including minority interest not included in row 5) issued by subsidiaries and held by third parties 85, 86, of which: instruments issued by subsidiaries subject to phase-out 486 (3) 36 Additional Tier 1 (AT1) capital before regulatory adjustments Additional Tier 1 (AT1) capital: regulatory adjustments Direct and indirect holdings by an institution of own AT1 instruments (negative amount) Holdings of the AT1 instruments of financial sector entities where those entities have reciprocal cross holdings with the institution designed to inflate artificially the own funds of the institution (negative amount) Direct, indirect and synthetic holdings of the AT1 instruments of financial sector entities where the institution does not have a significant investment in those entities (amount above 1% threshold and net of eligible short positions) (negative Direct, indirect and synthetic holdings of the AT1 instruments of financial sector 52 (1) (b), 56 (a), 57, 475 (2) 56 (b), 58, 475 (3) 56 (c), 59, 6, 79, 475 (4) amount) entities where the institution has a significant investment in those entities (amount above 1% threshold and net of eligible short positions) (negative amount) 56 (d), 59, 79, 475 (4) Report 214 on transparency and public disclosure requirements Page 2 of 28

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